The City Hall system worked last month. That itself is news. Events showed that the city’s substandard general managers can actually be ushered out the door without undue resort to violence.This certainly runs against the dogma according to Mayor Richard Riordan, who has long been snorting that he ought to have the power unilaterally to lop top underlings’ heads.In his own estimation, of course, Treasurer J. Paul Brownridge was anything but substandard. On the contrary. In his resignation notice, he referred to himself as being credited with bringing “sound fiscal management practices and a prudent investment focus to the city.” He further asserted that he, personally, was the reason our city didn’t go bankrupt the way Orange County did four years ago.Brownridge was swinging a bit wild. O.C. Treasurer Robert Citron had to break state laws to put Orange County’s precious $1.7 billion nest egg into investment “products” so diverse and weird that their very purveyors were at a loss to describe them in court.
Source: Out and No Wonder | L.A. Weekly